iBynd and Cowbell Cyber have joined forces to offer cyber insurance coverage to small and medium-sized businesses (SMBs).
The partnership will allow Cowbell’s affiliated brokers, technology partners, and managed security services providers to leverage iBynd’s embedded proprietary technology to rate, quote and bind offerings.
iBynd will also deliver Cowbell’s cyber insurance to SMBs via its distribution network, expanding the product portfolio for its customers.
iBynd CEO Phil Friedman said: “To successfully recover from cybercriminal intrusions, SMBs need the protection that standalone cyber insurance offers. We are thrilled to deploy our technology to expand Cowbell’s distribution. Plus, the addition of Cowbell to our A-rated insurance carrier lineup enhances our ability to serve SMB markets by providing higher cyber insurance limits and additional tailored options.”
Cowbell director of alternative distribution Erin Dyer said: “Cowbell and iBynd are well-aligned on fast, accurate pricing and cyber insurance protection for SMBs. Automated underwriting, user-friendly interfaces, and real-time APIs are part of both company cultures. By leveraging our combined strengths, we make it easier and faster than ever for SMBs to protect themselves from ever-increasing and financially devastating attacks of cybercriminals.”
In June 2021, iBynd allied with a Chubb brand, called Blink by Chubb, to offer consumer cyber insurance coverage.
Before that, Cowbell raised $20m in a Series A funding round to support product development and expand across the US.